Marketbuzz Podcast with Kanishka Sarkar: Flat start likely, Dixon Tech, Godrej Consumer results today
Description
Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top developments from around the world ahead of today’s trading session
-While Monday and Tuesday's fall came amidst multiple negative surprises, the fact that there were enough positive earnings surprises on Wednesday also could not improve sentiment in any form. IT was the only standout sector during the session, led by Persistent Systems and Coforge, shares of each ending 10% higher after a strong earnings performance and bullish management commentary on the road ahead.
-In an interaction with CNBC-TV18, Laurence Balanco of CLSA projected the Nifty to fall another 1,000 points from current levels in the next 20 trading sessions.
-Wednesday's high of 24,604, becomes the first level for the Nifty to cross during Thursday's trading session, which will also be the weekly options expiry day. The day's low of 24,378, which also happens to be the opening level and from where the index bounced, will be key to watch on the downside.
-Stocks to track: HUL, AU Small Finance Bank, United Spirits, VIP Industries, Birla Corp, Pidilite, Piramal Pharma, Sona BLW
-Earnings: ACC, Colgate-Palmolive, CSB Bank, Cyient, DCB Bank, Dixon Technologies, Godrej Consumer, IEX, IndusInd Bank, ITC, Laurus Labs, MGL, Nippon Life, Oracle Financial, Petronet LNG, PNB Housing, Westlife Foodworld
-GIFT Nifty was trading flat this morning vs Nifty Futures Wednesday's close, indicating a muted-to-positive start for the Indian market.
–In terms of global cues, equities in Asia fell while the yen stabilized along with Treasuries after a selloff on Wednesday as traders scaled back bets on US interest-rate cuts. Japanese, South Korean and Australian shares as well as stock futures for Hong Kong all dropped Thursday following a 0.9% decline for the S&P 500 on Wednesday. The yen edged higher after touching the weakest level against the greenback since July.
-Back in the US, big tech climbed in late hours as Tesla kicked off the “Magnificent Seven” earnings season with better-than-estimated results. The carmaker jumped 8% after reporting adjusted earnings above the average analyst estimate. The firm also said it expects to achieve slight growth in vehicle deliveries for the full year.
-In commodities, oil rose after retreating on Wednesday, as traders assessed tensions in the Middle East and the outlook for market balances heading into 2025. Gold edged higher following its biggest daily drop in 11 weeks.
Tune in to the Marketbuzz Podcast for more cues
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